Charlty Number
1171378
Company Numb¢r 10581820
CALEB LOVEJOY'S ALMSHOUSE CHARrrY
(A COMPANY LI￿￿tTED BY GUARANTEE)
UNAUDITED
FINANCIAL STATEMENfs FOR THE YEAR ENDED 31"DECEMBER 2024

CALEB LOVEJOY'S ALMSHOUSE CllA1￿Y
(A COMPANY LIMrrED BY GUARAiYfEE)
YEAR ENDED 31- DECEMBER 2024
CONTENrs
PAGE
L¢gal and administrative inforniation
Report ofthe Trusts¢s
Independent Examiner's report
Statement of Financial Activities
Income and Expenditure Account
Balance Shcct
10- 11
Notes forming part of the financial statements
12-20

Page I
CALEB LOVEJOY'S AI,MSHOUSE CHARITY
(A COMPANY LIMrrED BY GUARAKfEE)
IEGAL AIYD ADMINISTRATIVE INFORMATION
1171378
COMPANY NO:
10581820
PATRON:
Mr Michael More-MoIJ￿eu￿ HM Lord-Lieutenant of s￿￿Y
TRUSTEES
& DIRECTORS:
Mr Roger Musson (ChairnLqn)
Mr Michael Chastell
Mrs Angela Goodwin
Fr Neil Roberts
Mr Keith Hannah
Mr Philip Hooper (appointed 23 September 2024)
Manager & Clerk to tbe Trustees:
Mrs Jessica Greenhall (up to and including 4 February 2025)
Mrs Joanna Smalley (from S February 2025)
Registered & Principal Office:
Stoke Hospital Office
92 Stoke Road
Guildford. Surrey GUI 4JH
PROFESSIONAL ADVISERS
The following acted for the Charity in their capacity as:
Bankcrs:
Lloyds Bank PLC
147 High StTcet
Guildford, SuTrey GUI 3AG
Independent Examiner:
D L Griffin, FCA
Moore (South) LLP
Suite 3. Second Hoor, Friary Cou
13-21 Higb StreeL Guildforf sU￿¢Y GUI 3DG
Investtnent Providers:
M&G
P O Box9038
Chelmsford CM99 2XF
Solicitors:
Moore Barloiy LLP
The Oriel, Sydenham Road
Guildfor(L Surrey GUI 3SR

Page 2
CALEB LOVEJOY'S ALMSHOUSE CHARrrY
(A COMPANY LI￿I￿TED BY GUARANTEE)
REPORT OF TRUSTEES
ST
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees. report and the f]nan¢ial statements of Caleb LK)vejoy's Almshouse Charity for thc ycar
¢nded 315t December 2024 are set out on the following pages.
History? objectives and activities for the public benefit
Caleb Lovejoy founded this almshouse charity in the 17 century. He was born near St. Nicolas,
Church in Guildford and became a wealthy merchanL partly through supplying wagons to Oliver
CTomw¢ll's army during the Civil War. The funds of the charity were used to build the property
comprising four almshouses in Bury Stree¢ Guildford in 1841.
The principal object of the Charity is to provid¢ accommodation for four persons of good chatacter and
in need, with a local cOnn￿tion.
When planning the activities for the year, the Tnjstees have considered the Charity Commission's
guidance on public benefit and are satisfied that the work of the Charity accords with its stated objects
and provides public benefit to a ￿¢tion of those who reside within the Charity's area of benefit.
As described above the Criteria uscd to assess those who may benefit are not unreasonably restrictive.
ManagemenL governance arraDgemeDts, appointment of Trnstees and indllctio
Caleb Lovejoy's Almshouse Charity is a company limited by guarantee with a company registration
number 10581820 and a Charity Commission registration number 1171378. UDdeT Charities Act
legislation the pernianent Endomrynent Fund had to be kept in the original uninc0rp0r￿ed charity, Caleb
Lovejoy. This unincorporated charity is link￿ to the charitable company via a uniting direction with
charity numb¢r 1171378-1.
Caleb Lovejoy's Almshouse Charity is the sole cotporate Trustee of the unincorporated charity. These
fi[￿ncial statements incorporate the results of both Caleb IA)vejoy's Almshouse Clwity and Caleb
Lovejoy.
The Charity's constitution prnvides for it to be administered by a body of Truste¢s serving a terni of
four years and shall be eligible for re-election for two terms. Four of the Tn￿teeS nomillat￿ by the
Parish Council of Artington, with others appoint¢d by the existing Tn￿tees. Upon appointment the
Trustees arc given an induction pacL including a c£)py of the Charity Commission leafi¢t CC3,
"Responsibilities of Charity Tn￿ees'. and copies of all po]icies and procedures.
The TnLStees (who are Directors of the company) are responsible for running the organisation and
during the period under review they delegated day-to-day responsibility to the Manager and Clerk to the
Trnstees, Jessica Greenhall.
The ]￿lleS of thc Trustees who have held office during the year and sinc¢ th¢ year end are set out on
page l. C￿lstille Hetherin8ton retired on 25 April 2024. Benjamin Bcabey was appointed on 8 June
2024 and resigncd on 1° August 2024. Philip Hooper was appointeAI on 23 September 2024. The
remainder served throughout the year.
The Trustees wish to thank Christine Hcthcrington and record their appreciation of the significant
contribution she has made to thc cR￿lty during her ten years ￿ a Trustee.
Financial Review
The financial statements have been prepared in accordance with the accounting policies set out on page
12 and 13.

Pag¢ 3
CALEB LOVEJOY'S ALMSHOUSE CllARrrY
(A COIIIPANY LIMtTED BY GUARANfEE)
REPORT OF THE TRUSTEES
FOR THE YEIIR Ef4DED 31 DECEMBER 2024
UnTaFtrictedFllnds
The Charity had a surylus of income over expenditure for the year on the current activitics of the
charity (unrestricted funds), before the tevatuation of investments, of £13.519 (2023 £62.505).
Income receivable of £47,631 (2023 - £88.452) was Iower than 2023 du¢ to an exceptional item in
2023, which was the receipt of £46.500 owed by a former resident as explained in Nole 13 to the
financial ststements. Expenditure of £34.112 (2023 - £28.666) was higher mainly as addilional general
and cyclical maintsnance was carried out during the year.
Restricled incomefvids
No restricted income was received during the year (2023 - £Nil).
Permanent Endoivment
The pernianent endowment consists of four freehold cottages which have no known historical cost.
Only the improvements are shoivn in th¢ balancc shect. Depreciation of property improvements of £91
(2023 - £91) is chargeable to the p¢rn]an¢nt endowment fund. The pernianent endowment fund
decreased over the period by £91 to £2.252 (2023 - £2J43)-
Tolal Funds (including gains losses on imiesthienls)
The Charity had a net surplus of income over expenditure for the year on all activities (all funds) before
the revaluation of investsnents of £13,428 (2023 - £60,414).
The market value of investments at the end of year increased by £3,010 (2023 - £1,873) resultlng in an
overall surplus for the year of £16,438 (2023 - £62,287). Net assets at 31. 1)ecember 2024 totalled
£157.754 (31" December 2023 - £141,316).
Investment Policy
The Charity's policy is to invest funds at a tnedium risk wilh the aim of retaining the value of tts fimds.
The Trustees believe they have achicvcd this during the year. Investments are included at mid-market
value. The Chartty's reserves were held against possible future expenditure in accordance with
Almshouse Association policy and tr8llSfer￿d between fun(Is in accordance with this policy.
Reserves Policy
The Charity has the following funds:
I Permanent Endowment ￿lld
The capital of the Pennanent Endowment fimd may not be spent. The fund relat¢s to the cost of the
impmvements. The depreciation charge cach year is Cha￿ed to this fund so the fund balance equals
the capitsl value.
2 Restricted funds
Restricted funds are those fvnds which must be spent on th¢ particular purposes specified by the donor.
3 Unrestricted funds
Unrestricted fijnds comprise those funds which the Trustees are free to use in accordancc with the
charitable objects. Within unrestricted funds, there are two designated funds. At the end of each
year the Tn￿te¢S designatc funds for future cyclical maintenance and repairs and extrnordinary
repairs.

Pag¢ 4
CALE, B LOVEJOYS IIIMSHOUSE CHARfTY
(A COMPANY LJMrrED BY GUARANfEE)
REPORT OF THE TRUSTEES
FOR TEE YEAR EYL DED 315r DECEMBER 2024
The Charity aims to build rcscTV¢S to cover the cost of the maintsnance of the building, with r¢gard to
general building repairs and for the repairs notcd in the Quinquennial Report. A Quinquennial Review
was wried out in 2021 and the Trustees have transferred amounts between the unrestricted,
extraordinary repair and cyclical repair fLmds to ensure that sufficient funds aTe held in rcspect of the
work to be und¢rtak¢n. At 31" December 2024. the general reserves for genernl building repairs and
maintenance totalled £100.752. The cyclical repair reserves total £12,000 and extraordinary repair
rescrvcs total £42,750.
Risk MaDAgemellt
The Trustees have examined the major strategic, business and operational risks which the Charity faces
and have set up systems to enable regular T¢POrts to be produced so that the n¢c¢ssary steps can be taken
to lessen these risks.
Acbievemellts and Perforniance
The Charity continued to provide the ll￿]n objectivc. nam¢ly. provision of four cottages at Bury StreeL
Guildfort for persons in need.
All four cottages are cutrently occupied.
All mandatory checks have been caTried out including the annual gas safety check. The 5 yearly
electrical hard wiring test (EICR) has been Ca￿led out over the last four years, M'ith all remedial work
having been undertaken and certified, so all the cottages and communal areas ar¢ now fully compliant.
Following the Quinqucnnial Review in 2021 the work within the report has been prioritised and the
relatively minor remedial work required has been done in part during the year and will be continued
during 2025 with onty a few items outstanding bcfore the next Teview in 2026.
The four residents in the cottages are settled in their homcs and take pride in their surroundings. They
enjoy tending the garden with the help of a part-Eime gardener appointed in 2022. The garden is
flourishing and the residents and Tn)stees were delighted to receive a "Gold" award in the Guildford in
Bloom ￿mpetitIon in the category for the "Best Neighbourhood Project".
The cottages remain an attrnctive and pleasant environment in the heart of the town and within the Bury
Street area.
As agreed by the Trustees, the weekly maintenance charge for 2024 was increased from 1st January by
£6.92 to £215.77 which falls within the Equivalenr Fair Rent valuation certified by the Valuation Office
Agency in October 2024.
As explained in Note 15 to th¢ financial statements, in October 2024 a right of light claim was settled,
subject to contracL relating to the loss of light which will be suffered by the Charity's properties at 5-11
Bury Street by the developrnent of what is known as the Guildford Plaza site. The agreed compensation
duc to the Charity is £115,000. At the time of approval of th¢s¢ financial statements the papenvork was
still being fU￿lISed.

Page 5
CALEB LOVEJOY'S ALMSHOUSE cHAR￿y
(A COIVLPANY LIMITED BY GUIIRAJYTEE)
REPORT OF THE TRUSTEES
FOR THE YEAR EfiDED 31- DECEMBER 2024
Reception
On l October 2024, in accordance with established practice. a reception ivas heId at St Nicolas. Church
Community Centre in celebration of the life of the Charity's founder, Cal¢b Lovcjoy, in the presence of
the Mayor of Guildford, Councillor Sallie Barker hlBE, and the Patron of the Charity, Mr Michael
More-molyneux. attended by some 40 people. It has becom¢ a tradition (in place of the historic
semion) to invite another charity to make a presentation at our annual reception. This year a
presentation on the ivork of the Merchant Taylors, Company was 8iven during the reception by Steph¢n
Freeth the Compaay Archivist. The Merchant Taylors. Company is one of the ￿at twelve Livery
Compallies of the City of London. The Charity's Founder. Caleb LA>vejoy, was apprenticed to a member
of this company for ten years from 1617 and became a freeman (member) of the Company. The
Trustees wish to record their thanks and apprcciation to Stephen. all those who attended and everyone
who contributed to the success of the evcnt.
Future Plans
The Caleb Lovejoy cottages are found in a Grade It listed building in Bury Stree¢ Guildford. The
Trustees intend to continue to implement the recommendations of thc Quinquennial Report of May 2021
and to undertake further Quinquennial surveys of the fabric of the building in future. The Charity has a
strategic objective to re￿rbISh the front of the property in 2025 (including cleaning and re-pointing).
This ivill be a signifIcant cost and the hope is to brAng this to fruition once Tiger D¢velopmenVs
construction of 300 aparttnents on the Plaza Site between the Portsmouth Road and Bury Street site.
across the road from the almshouses. is complete (expected during 2025).
Acbievement of Objectives
The Trustees consider that within the confines of its constitution. building and site they continue to ca
out the Charity's objectives.
Trustees, responsibilities in relation to the Financial Statements
The Trustecs (who are the directors of the Company) are responsible for preparing the Trustees. report
and the f￿￿nCIal statements in accordance ivith applicable law and United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for eacb year ivhich give a true and
fair view of the statc of affai￿ of the charitable company and of incoming resources and application of
resources, incliiding income and expenditure. of ihe charitable company for that year. In pr¢paring
these financial statements, the Trustees are requiT¢d to:
select suitable accounting policies and then apply them consistently.
obs￿¢ the methods and principles in the Cbarities SORP 2019 IFRS102)"
make judgements and estimat¢s that arc reasonable and pn]dent'
stat¢ ivhcther applicable UK accounting standards have be¢n followed, subject to any material
departures disclosed and explained in the financial statements"
prepare the f￿anCIal statements on a goinG concern basis unless it is inappropriate to presume that
the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that dis¢los¢ ivith reasonable
accuracy at any tttne the f￿ancial position of the charitable company and enable them to ensure that th¢
flliancial statements comply with the Companies Act 2006.

REPORT OF THE TRusfEES
FOR TEE YEAR EFWED 31ST DECLAIBTrX 2624
Trustees, respon5ibilitses relatiou to the Ststements (eonthlled)
The). are also re5pollsi￿le fr Safeg￿gIhe assets of the ch8riry •)d h¢nce for tsking Teasonable steps
for th¢ pr¢YgntiOD and ddedion of fraud atul oth¢r irr¢gularities.
The report has been PRtPa￿d in a¢cord8n¢e with the Accouuting alld Reporting by CIwit￿5. Ststement
of Recornmended Practice applicable to charities prepaTing their accounts in accordanc¢ with thc
rinao¢ial Re￿rtIng Standard 102. In ptcparinE this retx)rt tbe TpJstees have tsk¢n adTr"aiitage of the
Small companies ex¢mptioTLS proillded by kniion 415A of the com￿11￿ Act 2006.
This annual port W&8 woved by the B￿9rd of Directots and TThst¢es on... .. ..... 2025 and sign
otE tbeir b
bj:

Page 7
CALEB LOVEJOY'S ALMSHOUSE CHARITY
(A cofvlPANY LI￿l￿TED BY GUARANTEE)
INDEPEM)ENf ExAm￿Rs REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31- DECEMBER 2024
I report to the charlty trustees on my ¢xamination of the accounts of the charitable company for thc y&qr
ended 31° December 2024 which are set out on pages 8 to 20.
Responsibilities and basis of report
As the charity trnstees of the charitabl¢ company (and also its directors for the PUTposes of company
law) you are responsible for the preparation of ihe accounts in accordance with the requirements of the
Conipanies Act 2006 ('the 2006 Act')-
Having satisfied myself that the accounts of th¢ charitable company are not required to be audited under
Part 16 of the 2006 Act and are eligible for tndepend¢nt examination. I report in respect of my
examination of your company's accounts &8 &2rried out under section 145 of the Charities Act 2011
('the 2011 Act,). In canying out my examination I have folloived the Directions given by the Charity
Commission under section 145(5Xb) of the 201 l Act.
Independent examiner's statement
I have completed my examination. I confirnl that no matters have come to my attention in connection
with the examination giving me cause to believe that in Bny material respect:
accounting records were not kept in respect of the c]WAtsble company as ffquired by section 386 of
the 2006 ACL or
the accounts do not accord ivith those records. or
the accounts do not comply ivith the accounting wuirements of section 396 of the 2006 Act other
than any requirement that ihe accounts give a 'tru¢ and fair view. Ivhich is not a matter considered
as part of an independent examination" or
the accounts have not been prepared in accordance with the methods and Principles of the
Statement of Recommended Practice for accounting and reporting by chariti¢s applicable to
charities preparing their accounts in accordance with the FAnancial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to ivhich
attention should be drawn in this report in order to enable a proper undersLqnding of the accounts to be
reached.
Q(3rtLeUL
D L Griffm, FCA
Date
Moore (South) LLP
Chartered Accountants
Suite 3. Second Floor
Friary Court
13-21 High Street
Guildford GUI 3DG

Page 8
CALEB LOVLJOYS ALMSHOUSE CHARITY
(A COMPANY LIMITED BY GUAR￿TE￿)
GROIJP STATEMENT OF FINANCtAL AcfTvrrJES FOR THE YEAR
ENDED 31sr DECEMBER2024
UNRESTiucfED PERmA￿ENr
TOTAL
FUNDS ENDOWMEf*Y FUNDS
TOTAL
Notes
2024
2024
2024
2023
INCOME AND
ENDOWMENTS FROM:
Charitable activities
Maintenan¢¢
contrLTr>ution5
43,440
43.440
41.952
ExceptionaI item
13
46,500
Donations & gmts
239
239
Investtn¢nts
3.952
3.925
2.625
TOTAL LNCOME
47,631
47.631
92.171
EXPELYDITUR
Charitable activities
32,146
91
32,237
29.603
Otber costs
1,966
1.966
2.154
TOTAL EXPEI¥DITiiRE
34.112
91
34.203
31.757
NET
COMEJ(DEFICIT)
13.519
(91)
13.428
60.414
UNREAIJSED
GAIN ON
INVESTMENTS
3.010
3.010
1.873
IYET
INCOMEI{DEFICTD
16,529
(91)
16,438
62,287
TOTAL FUNDS
BROUGHT FORWAI
138,973
1343
141,316
79.029
TOTAL Fuf4DS
CARIUED FORWARD
l57,754
141,316
The Ststement of Finan¢ial A¢tivtties incorporates the Staten)ent of Totsl Re￿gr1]Sed Gains and Losses.
The notes on pagcs 12 to 20 fonn part of these finatlcial 5tatetDeDts

Page 9
CALEB LOVEJOYS ALMSHOUSE CHARrrY
(A COMPANY LIMrrED BY GUARANTEE)
INCOME AND EXPENDrruRE ACCOUNT
FOR THE YEAR ENDED 31- DECEMBER 2024
2024
2023
Income
50.641
94.044
Expenditure
34,112
31,666
Net income
16.529
62,378

Page 10
CALEB LOVLJOY'S ALMSHOUSE CllARrrY
(A COMPANY LIIVllTED BY GUARANTEE)
GROtrp BALANCE SHEET FOR YEAR ENDED 31sf DECEMBER 2024
TOTAL
TOTAL FUNDS
FUNDS
Notes
2024
2024
2024
2023
FIXED ASSETS
Tangible fixed assets
1252
2252
1343
1252
1252
2.343
CURRENT ASSETS
DebtOTS
io
1.187
l.187
3,177
Investments
114.603
l E4,(A)3
92,152
C&th at bank
50.19YI
50.19)
54.072
165.980
165.980
149.401
CREDrroRS:
Amounts falling due 12
within one year
(10,478)
(10,478)
(10.428)
NET CURREKr
ASSETS
155.502
I55.502
138.973
TOTAL ASSETS
LESS cifRRENr
LIABILITIES
L55,502
2.252
l57.754
141.316
NET ASSETS
155.502
2,252
157,754
141,316
UI¥RESTRICTED
General and repair
16
155.502
155,502
138.Y73
RESTRICTED
Endowment funds and 16
restricted income
2252
2,252
2.343
155
2,252
157,754
141J16

Pagell
(A COMIFANY L]TrITTED BY CUARANTEE)
GROiIP BALAlYC£ (CONTIN[￿}
FOR THE YEAR ENDED 31 J)ECEMBER 2024
For Ihe year cndcd 31" DeCE￿bA- 2024 thE c(pmpany ivas eDlitled to exwion from audit
der section m of th¢ Companics Act 2006 relalillg to small Con1p￿les.
Tntstees. *spo081￿]Ittle
The membeT5 have (equi￿1 the LX)mwiy io obtaFn an audit of its financial SlateD￿lts for the
y¢ar in q￿s*ll￿ in ￿￿onkn1Ce with Section 476.
The Trustx4 arknowkdge thcir reSp0D￿bilities f￿ Co￿￿ty[￿8 with the requireD￿ of the Act
npanies subixt to tt* small Companies. regime and the ChaTiti05 Ststement of R￿on￿￿etHI￿d
Tr rinancial statthients woc appDfftd by the TTU5tees al￿ Signed on thcit lthalf br.
Rogwmu
CompanvNumber. 10581820
The notrs on Fagas 12 to 20 fonn part of these statements

Pagc 12
CALEB LOVEJOYS ALMSHOUSE CllARrrY
(A COMPANY LIMrrED BY GUARthTh)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31- DECEMBER 2024
l. Accounting Policies
Company status
The company is a company limit¢d by guatantec and w&8 incorporated in England and Wales. Th¢
members of the company are the Trustees named on pag¢ l. In the cvcnt of the company being
Ivound up, the liability in raspe¢t of the guarantee is limited to £1 per member of the company. The
address of the registered office is gtven on page l of these fmancial statements.
b. Basis of preparntioD
The financial ststem¢nts have been prepared in accordance with Accounting and Reporting by
Chariti¢s; Statement of Recommended Practice applicable to clJariti¢s preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
FRS102, and the Charities Act 2011 and th¢ Companies Act 2006.
The financial statements are pr¢pared on a going concern basis under the historical cost convcntion,
modified to include investments at mrtet value. The fitwicial statements ar¢ pr¢pared in sterling
which is the functionaI currency, and have I￿ell rounded to thc ncarcst p)und.
The charitable company meets the definition of a public benefit entity under FRSI 02.
c. Group aeeounts
The accounts incorporate th¢ results of Caleb IA)vejoy's Almshouse Charity (charity number
1171378) and its liy)ked charity Caleb LKpvejoy (linked charity number 1171378-1).
d. Going coneern
The financial stat¢m¢nts have been prepared on a going concern b&8is. The Tn￿te¢S considcr that
there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
Maintenance contrtbutions and other charges receivable arc accounted for in the year in wliich the
Charity is entitled to receipt.
Other income is accounted for when the charity is entiiled to receipL
Investment income is account￿ for in th¢ year the Charity is entitled to T¢¢eipt.
f. Expenditure
All expenditure is accounted for on an aCcn￿S basis and includes irrecoverable VAT. Expenditure
is recognised Trvhere there is a legal or constructive obligation to make payments to third parties, it
is probable that the settlement will be required and the obligation can be measured reliably.
Expenditure on charitable activities is charged to the rcvcnue account in the year in which it is
incurrf except the costs of extraordinary repair4 which if they represent improvements to
the property arc capitalised.
Other expenses are charged to the revcnuc account in the year in which they areincurred.

Page 13
CALEB LOVEJOY'S ALMSHOUSE CHARr
(A CONIPANY LIMfrED BY GUARANTEL)
NOTES TO THE FINANCIAL STATF.MENTS
FOR THE YEAR ENDED 31- DECEMBER 2024
l. Accounting Policies (continued)
Allocation of support costs
Costs are allocated to the particular activity where the costs relate directly to that activity. As there
is only one activity a]1 support costs have been allocated to charitsble activitleS.
g. Tangible fixed assets
Fixed assets arc stated at historical cost less depreciation. The ori.ttinal building has no knoivn
historical cost and only th¢ improvements are shown JD thc balance shcct.
Depreciation is provided on all tangible fixed assets. at rates calculated to write each asset down to
its estimated residual value evenly over its expected useful life. as follows:
Improvements to property- 2 % straight line.
h. Debtor5
Debtors are recognised at the scttlcmcnt amount duc. less a provision for doubtfuI debts.
Prepaym¢nts are valued at the amount prepaid at the balance sheet dale.
Current asset investments
Current asset investments have been valued at mid-market value at the balance sheet date.
Unrealised and realised gains and losses are shown in the SLqtement of Financial Activiti¢s. It also
includes cash accounts ivith redelllption date over tlllEe months. which are included at C05t.
Cash at bank and in hand
Cash at bank and in hand includes c&sh and short terni highly liquid iniiesknents with short
maturity of three months or less frnm the date of acquisition or opening of the deposit or similar
accoiint.
Credilors
Creditors and provisions are recognised ivhere the Charity has a present obligation resulting from a
past event that ivill probably result in the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliably. Creditors are Tccognised at their
settlement amount.
Financial instrnments
The Charity only has financial assets and fllLqncial liabilities of a kind that qualify as basic financial
instruments. Basic fmancial instruments are initially recognised at transaction value and
subs¢qucntly measured at thcir scttlement value.
Funds
Restricted funds
The P¢rnian¢nt Endoivment Fund is held by the linked charity. Caleb Lovejoy. These are fund
the capital of ivhich cannot be spcnt but are to bc inV￿ed to generate income. Costs which can be
offset against the pemianent endowm¢nt fund include the costs of maintaining the capital element
of the endoivrnent fiEnd. gains and losscs on disposal of the asset4 unrealised gains and losses and
similar charges. Restricted Funds also include, for &xample, grants which Can only be sp¢llt on
specific purposes.
Unrestricted funds
Unrestricted funds comprise those funds ivhich the Trustees are free to use in accordance iyith th¢
charitable objects. At the end of each year the Trustees designate funds for future cyclical
maintenance and repairs and extraordinary repairs.

Page 14
CALEB LOVEJOVS ALMSHOL'SE CHARTrY
(A COIVIPANY LITrUTED BY GUIlRANfEE)
NOTES TO THE FINANCIAL sTATEME￿￿s (continued)
FOR THE YEAR ENDED 31- DECEMBER 2024
2. JUDGEMENTS AND KEY SOtJRCES OF ESTIMATIOIY uNcERTA￿Ty
In the application of its accounting po]icies. the Trustees are ￿UIr￿a to make judg¢m¢nts,
¢stimates and assumptions about the carying atnount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based (n historical
experA¢n¢e and other factors that aTe considered to be relevant. Actual results may diffeT from these
estiinates.
The estimatss and undertying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recogoised in the year which the estimate is revised wher¢ th¢ revision
affects onty that year, or in th¢ y¢aT of th¢ revision and future years where the revision affects both
current and f(rture years.
The Trustees do not believe there are any significant estimates.
3. DONATIONS & GRANTS
2024
2023
Donations (unrestricted)
Grant from Surrey County Council (restricted)
239
94
1,000
239
1,094
4. INVESTMENT INCOME
2024
2023
Investment income- listed
3,160
792
2,145
480
Investment income- bank interest
Total
3.952
2,625
All investment income is unrestricted

Page 15
CALEB LOVEJOY'S AIMSHOUSE CIIARrrY
(A COMPANY LIMrrED BY GUARANTEE)
NOIES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31- DECEMBER 2024
5. EXPEfiDITURE
2024
2023
Charitable activities
Water charges
Property insurance
Telephone
Emergency communication system
Heating, hot water, electricity
Extraordinary maintenance and repairs
Cyclical maint¢nanc¢ and repairs
Day to day maintenance
Manager & Clerk
Subscriptions and donations
Printing and oifice exp¢nses
Legal and professional scrviccs
Miscellaneous ¢xpenses
1,338
1.186
1,981
1.050
5,116
641
1,184
1.473
1,004
6.151
4.978
5,374
7.783
267
512
1.150
1.411
1,160
4.234
7.262
253
521
1,796
833
TOTAL UNRESTRICTED LYPENDITURE
32.146
PermaneDt Eudoiyment
Depreciation
Grant Account (Restricted)
Grant fimding spent on back doots & Tendering
TOTAL RESTRICTED EXPENDITURE
91
91
91
3,091
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES
OTHER COSTS
2023
tndependent examination
1.605
1.668
Under accrual 2023
72
Xero
361
414
TOTAL
1.966
2.154
The other costs all Governance costs for both year
7. TRUSTEES, REMUNERATION
No TTh￿tEe received ally remuneratiOD, or was Teimbursed for any expenses during the year (20?3 - Nil).
8. EMPLOYEES
There were no employees during the year (2023 - Done).

Page 16
CALEB LOVEJOYS ALMSHOUSE CHARrrY
(A COTrTrANY LIMITED BY GLARANTEE)
NOTES TO THE FIN￿NCL4L STATEMENTS (continued)
FOR THE YEAR ENDED 31- DECEMBER 2024
TANGIB￿ FIXED ASSETS
Freehold
Improvements
Totsl
Permanent Endowment:
Cost at I" January 2024 and 3181 Dec¢mber 2024
4,527
4,527
Depreciation:
Balance brought forward at I" January 2024
2,184
2.184
Charge for the year
91
91
Balance at 31° December 2024
2275
2,275
Net Book Value:
3 1st Dec¢mb¢r 2024
2,252
31S1 December 2023
2,343
2,343
The four cottages have no known historical cost. However in 2024 the total sum insured based on their
estimated building replacement ￿st was £1.376,613 (2023 - £1,349,620)-
10.
DEBTORS
2024
2023
Amounts receivable within one year.
Trade debtors
Prepayments
Other debtor
205
844
138
1,187
874
2285
18
3,177
All debtors relate to the unrestricted fvnds.

Page 17
CALEB LOVEJOY'S ALMSHOUSE CHARTrY
(A COl¥tPANY LtKtTED BY GUARANfEE)
NOTES TO THE FllYANCIAL STATEMENfs (continued)
FOR THE YEAR ENDED 31 DECEIVIBER 2024
11.
INVESTMEIYTS
2024
2023
M&G Charity Multi Asset Fund
As at 1° January 2024
76,933
52,915
Additions
20.000
Dividends reinvested
3,160
2,145
Re-valued in year
3,010
1,873
As at 31" December 2024
83,103
76,933
Fixed Terni bank account
31,500
114,603
76.933
All invcstmcnts relate to unrestricted funds.
12.
CREDITORS
Amounts falling due ivithin one year.
2024
2023
Accruals
10,478
10,428
10,478
10,428
All creditors relate to un￿StriCted funds.
13.
EXCEPTIONAL INCOM
In November 2023 the Charity received £46,500 in full and final settlement of a loll￿ outstsnding debt
due from a forn)er resident dating back to 2019 and prior. The amount comprised unpaid maintenance
harges. costs aW￿ded and interest arising from County Court Judgements in the Charity's favour in
2016 and 2019. Settletnent followed the sale of a property jointly owned by the former resident. No
value had been attributed to this debt in the fjnancial statements of previous years as its realisation
Ivas likely to be dependent on the sale of the property, the timing and proceeds of which could not be
deterniined at that lime.
14.
At 31. December 2024 the Charity had no financial cotnmilments (2023 - nil).
15.
CONTINGEKf ASSET
In October 2024 a right of light claim Ivas settled. subject to contract. relating to the loss of light
which will be suffered by the Charity's properties at 5-1 l Bury Street by the development of what is
knoivn as the Guildford Plaza site. The agreed Com￿nSation due to the Charity is £11 5,000. At the
time of approval of Ihese financial statements the papenvork ivas still being ftnalised. The
compensation will be recognised as income in the fllwicia] statements when received.

Page 18
CALFB LOVLTOYS ALMSHOUSE CHARTrY
(A COTrIPANY LIMITED BY GUARANfEE)
NOTES TO THE FINANCIAL STATEMENTS {eontiDued)
FOR THE YEAR ENDED 31- DECEMBER 2024
16.
RESERVES
Balance at
l Jan 2024
Income EX￿nditUre Transfers
Gain on
Balance at
revaluation of 31 December
investments
2024
Permanent Endowment
Fund
Grants received for
Improv¢ments 1964
2.343
91)
Unrestricted funds
General
90,473
43.679
(34.112)
712
100,752
Extraordinary repair fund
36.500
2,974
1,010
2,266
42,750
Cyclical r¢pair fLmd
12,000
978
744
138.973
47,631
(34,112)
3,010
155,502
141,316
34
03
3.010
157.754
Prior year inforniation
Balance at
l Jan 2023
Incotne Expenditure Transfers Gain on
Balance at
revaluation of 31 D¢c¢mber
investments
2023
Permanejjt EDdowment
Fund
Grants received for
Improvements 1964
2,434
91
2,343
Restricted income fund
Grants rec¢ived 2022
2.000
1,000
3,000
Unrestricted funds
General
33,595
88.546
(28,666) (5,002)
90,473
Extraordinary repair fund
30.000
1019
3,040
1,441
36,500
Cyclical repair fund
606
1.962
432
12,000
74.595
91.171
(28,666)
1,873
138,973
79.029
92,171
(31,757)
1,873
141,316

Page 19
CALEB LOVEJOY'S ALMSHOUSE CHARrrY
(A COMPANY LtNiriED BY GUARAIYTEE)
NOTES TO THE FINANCIAL STATEMENfs (CODtiDued)
FOR THE YEAR EIYDED 31- DECEMBER2024
17.
ANALYSIS OF INET ASSETS BETWEEN FUNDS
Restricted
funds
Extra.
ordinary
repair fund fund
Cyclical
Revenue
reserve
Total
Tangible f￿ed assets
Investments
Cash at bank
Debtors
Creditors
2.252
2.252
I I4,603
50.190
1.187
(10.478)
157.754
42,750
12,000
59,853
50,190
1.187
(10,478)
100.752
2,252
42,7SO
12,000
Prior year information
liestricted
funds
Extra-
ordinary
repair fund fifftd
Cyclical
Revenue
reserve
Total
Tangible fixed assets
Inveslmcnts
Cash at bank
Debtors
Creditors
2,343
2.343
92.152
54,072
1,697
(8,948)
141,316
36,500
12.000
43.652
54,072
1,697
(8,948)
90.473
2.343
36,500
12.000

Page 20
CALEB LOVLJOY'S ALMSHOUSE CHARrrY
(A COMPANY LtMtTED BY GUIlRAwfEE)
NOTES TO THE FtNANCIAL STATFMENfs (continued)
FOR YEAR ENDED 31- DECEMBER 2024
17.
ANALYSIS OF NET ASSETS BETWEEIY FtJNDS (continued)
Restricted Funds
Permanenl Endowment
The Pcnnanent Endowmcnt Fund is held by the linked charity. Caleb IA)vejoy. These are funds, the
capital of which cannot be spent but are to be illvested to generate income. Costs which can be
offset against the pernianent endowment fund include the costs of maintaining the capital element of
the endowment fi]nd, gains and losses on disposal of the assets, unrealised gains and losses and
similar charges.
Restricled incomefunds
Restricted income fjjnds are thosc funds for which the income must be spent on the particular
purpose specified by the donor.
Unrestrieted Funds {general)
Thes¢ ar¢ available for the trustees to use in accordance with the charitable obj¢ctives of th¢ Charity.
Designatsd Funds
Grants received for improvements (1964)
The only movement in this fimd is the offset of the depreciation charge for the year. The balance at
cach year ¢nd is ¢quivaIent to balance on f￿ed asset for firehold improvements.
Extraordinary repair fund and cyclical repair fund
The transfers into the funds each ywdr are based upon the minimum amounts recommended by the
Almshouse Association.
The income from and revaluation from investments is allocated between the extraordinary repair fund
and the cyclical repair fvnd each year, based upon the value of their respective opening reserves.
The funds are maintained to ensure the Charity has suificient reserves for planned improvem¢nts and
the matters identified in the Quinquennial Report on the fabric of the building.
18.
RELATED PARTY TRthSACTIONS
There were no outstanding balances at thc year end (£Nil in 2023).
19.
CONTROLLING PARTY
There is no controlling paty.